Good evening folks and the Lord’s blessings to you.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is holding in the pattern of wave (i) up again today even if it is a bit messy!
The price did break above the previous wave ‘iv’ level at todays high.
This is at least a hint in favor of a larger reversal.
As it stands,
the main count holds,
and I will continue to follow a potential wave (i) up so long as the action allows.

Tomorrow;
Watch for wave ‘v’ of (i) to push higher as shown.
A break above 1.05 will be a better area to top this rally out.
So lets see if that happens before the end of the week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I have switched to the alternate idea for wave (v) blue in GBPUSD tonight.
There is a series of three wave structures in place for this pattern.
And the price action is expanding in breadth as the pattern develops in wave (v).
so I am suggesting an expanding wedge for wave (v) now.
with one more move lower in wave ‘v’ of (v) left to close out this pattern.

Tomorrow;
Watch for wave ‘iv’ to top out and then drop back below 1.2100 again in wave (v) of [c].

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is inching higher today in line with a possible wave ‘i’ pink as shown.
this market has been stuck in a sideways range for over month now,
and I am waiting patiently for the action to break out into wave (iii) up.
But so far,
there is nothing to confirm the wave (iii) idea.
I am looking for wave ‘i’ of (iii) to push back above 158.00 to improve the probabilities for this wave count.
And hopefully that will come by the end of this week.

Tomorrow;
watch for wave ‘i’ pink to continue higher in five waves to break resistance above 158.00.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The count in the S&P got blown outta the water today,
but the DOW is still moving in the realm of an expanded flat correction higher in wave (ii).
I am now forcing myself to hold this wave count with loose fingers.
The rally in wave ‘c’ of (ii) has now pushed close to the 78% retracement level.
And we are definitely in a danger zone again.
So it will be an interesting end to the the week.

Tomorrow;
Watch for this rally in wave ‘c’ to end.
it is a long way down to retrace all of wave ‘c’.
but only that move can really turn the fortunes of this wave count again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has pushed above the upper trend line of the wedge pattern in wave (c) today.
the action is quite concentrated around 2750 today,
and there seems to be a reversal in momentum after reaching an extreme to the upside again.
The price is at a point of making at least a corrective move lower after that extended rally in wave (c).
so that is what I will look for as this weeks ends.

Tomorrow;
A turn into wave ‘i’ down will require a drop back into support at 2650 in five waves.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude did create a corrective three wave move higher into a possible fourth wave at the high today.
And now we have a drop off that correction tonight.
This action is in line with a possible fifth wave down as shown,
and if this count is correct,
then we should see a drop into the 74.00 area to complete wave [i] down.

Tomorrow;
the price must continue lower as shown.
I don’t expect a break of the wave [iv] low at 72.45 with this initial decline,
but I would like to see a challenge of the 74.00 area at least.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

There goes another opportunity to end the charade in wave (B)!

I am dealing with this rally to a double top as wave (v) of [v] of ‘C’ again.
The market got a sight of a new high and ran with it today.
So now I am shoved back in my place again waiting for this darn wave to top out in wave [v] of ‘C’.
Lets see how this weeks trade ends before making any predictions again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver didn’t quite make a new high today but the price is close enough to cause an issue to this count.
I cannot quite fit this wave (ii) count into a standard pattern now,
so maybe there is more to unfold in wave ‘c’ of (ii) to make this pattern clearer.
I am going to give this correction in wave (ii) until the end of the week to resolve.
and then next week I will look at a turn in wave ‘i’ of (iii) again.

Tomorrow;
Lets see if wave ‘c’ of (ii) actually does hit a new high for this correction.
The 62% retracement level seems to be taking a stand at the moment.
If this holds,
and the price drops back again,
then wave ‘i’ may be on the cards again.